Spending Picks Up as Consumer Optimism Improves - Other News

ADVERTISING DISCLOSURE

ADVERTISING DISCLOSURE:
Credit-Land.com is an independent, advertising-supported web site.
Credit-Land.com receives compensation from most credit card issuers whose offers appear on our site.
Compensation from our advertising partners impacts how and where their products appear on our site,
including, for example, the order in which they may appear within review lists.
Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Spending Picks Up as Consumer Optimism Improves

The content is accurate at the time of publication and is subject to change.

More than three-quarters of Americans feel that their financial picture is getting better or is at least stable, according to newly released data from the Chase Blueprint Pulse of the Consumer Survey.

The survey asked 1,208 adults about their financial outlook in early March. Overall, 76% of those surveyed said that their personal finances were stable or improving, an increase of 11% from last year’s survey.

When asked whether their personal finances were on the upswing after bottoming out during the recession, 45% said that they were. Last year, only 31% of respondents said their finances were in recovery mode.

When it comes to the national economy, 61% think our economy is past the worst and is either stable or improving. People feel even better about their local economies: 67% said the economic outlook in their surrounding areas was holding steady or getting better.

Spending and saving wisely as finances rebound

An optimistic financial outlook means people are ready to start spending again, especially if they’ve been in penny-pinching mode for a while. Thirty-nine percent of survey respondent said they are currently spending as much or more than they were before the recession hit. Over the past year, the top spending categories were restaurants (33%), vacations (20%) and clothing (17%).

People aren’t just spending. Almost half (45%) of folks that took part said they have increased the amount they are saving – an increase of 9% over last year. But 51% say the recession has not motivated them to bulk up their savings accounts.

Chase Blueprint, a program for Chase cardholders designed to help them take control of their finances and spend wisely, has added a knowledge center to its site. This online resource will offer consumers access to a variety of studies, the first of which is called, Born to Spend? by behavioral economist Dr. Hersh Shefrin. The study examines how nature and nurture play into consumer spending habits.

Dr. Shefrin recommends three strategies consumers can use to keep their financial outlook bright:

Utilize budgeting programs that help with setting goals, tracking expenses, finding the right credit card for your needs, and paying down debt.

Take advantage of technology and use personal finance tools that collect data to help identify spending patterns.

Make money management fun for kids by playing games that teach them about mindful spending.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.

Related News:

Savings accounts, healthcare costs, and funding retirement are the main financial concerns keeping people up at night, according to a study by Chase. Two-thirds of consumers say that saving money is their biggest concern, yet less than...Continue reading

Are you sticking to your New Year’s resolutions to eat better and get to the gym more often? While health and fitness are top resolutions, finances were also on people’s minds when they rang in 2014, according to a recent survey.Continue reading

Enter your e-mail address to subscribe to the latest CreditLand news, articles, and expert advice for FREE.
CreditLand will never share your e-mail address with any third parties.
You may unsubscribe at any moment by simply clicking the Unsubscribe link in any of CreditLand's newsletters.

* See the online credit card applications for details about terms and conditions of credit card offers. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the "Apply Now" button you can review the credit card terms and conditions on the credit card issuer's web site.

Information in these articles is brought to you by www.Credit-Land.com. Banks, issuers, and credit card companies mentioned in the articles do not endorse or guarantee, and are not responsible for the contents of the articles.

The Credit-Land.com webpage is a free service and an information resource for credit cards and financial products and services available to eligible United States consumers.
Credit-Land.com does not offer any warranties and is not a direct service. There are no guarantees for approval or offers when applying for a credit card.
Please refer to the application if you would like more information on each credit card.
When you click "Apply" for a particular credit card, please take the time to review the terms and conditions of the product/service at the issuer's website.
All logos on the Credit-Land.com website are property of their respective owners.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate info, however all info is presented without warranty. Consult a card's issuing bank about the terms & conditions.

User Generated Content Disclaimer: These responses are not provided or commissioned by the bank advertiser.
Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser.
It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

ADVERTISING DISCLOSURE:
Credit-Land.com is an independent, advertising-supported web site.
Credit-Land.com receives compensation from most credit card issuers whose offers appear on our site.
Compensation from our advertising partners impacts how and where their products appear on our site,
including, for example, the order in which they may appear within review lists.
Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Please note that Credit-Land.com has financial relationships with some of the merchants mentioned here. Credit-Land.com may be compensated if consumers choose to utilize the links located through the content on this site and generate sales for the said merchant.